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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3901528 times)
velacreations
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September 14, 2013, 06:50:46 PM
 #12761

Considering ASICminers overall success its surprising to see so many "experts" telling them how they should run their business. There's no lack of demand for shares so all this talk of "should have..." and "should do..." can just GTFO, they came here from nothing and kept their promises and that's worth far more than pro beancounting and paperwork.

I don't think it is unreasonable to get some information from FC regarding the mining problems and more concrete details of hardware for the next few weeks.  It would greatly help confidence to get some more information on how problems are being addressed.

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noodle_dam
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September 14, 2013, 06:51:37 PM
 #12762

Dear Friedcat, board members, dear shareholders.

I don’t speak a lot, but as a shareholder I need to speak out now.

Here are my concerns.

1.)   Un-transparency in company mining hashrate
2.)   Un-transparency in company hardware salles and other income/expenses
3.)   Lack of updates from board or Friedcat himself


---

Regarding the first concern, i proposed the following question in the first round of questions

“Could we have an official live hashrate meter from ASICMINER?”

We received 2 answers for now:

Yes. Our internal management system is towards its completing. Directing the data to a public webpage is easy.

The same question made into the second round of questions as well, so second answer was :

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.

Now is middle of September and we still don’t have hashratemeter. We are still guessing the hashrate from mined blocks, we are still questioning, believing, hoping, speculating …



For second concern regards un-transparency in company sales I proposed the following question

“For more transparency, is it possible to share a wallet address for depositing income from ASICMINER hardware sales?”

This question made into the second round of shareholders questions.

answer
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.

From bitcoin-flow in AM addresses as a shareholder I still don’t have a clue how many blades/usbs company sold in week/month. Also what about direct sales in China? Franchising? Expenses? 2nd gen development? Moving?

Its really hard to write few words after each dividend? “The sales was … and the news are” If CEO doesn’t have a time for this anymore than somebody from staff could handle the public relations.



Third concern, lack of updates.

I remember days when Friedcat delivers updates like clockwork. This is not true anymore. And humble shareholders are kept in speculating darkness. What happened with transparency?

In this unstable times we need updates more than ever.

In my everyday life I see that money changes people, but I believe this is not an issue here and we shareholders are still important for company.


Kind regards,

Monarch


---

Kind Regards,
-noodle_dam

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September 14, 2013, 07:04:22 PM
 #12763

Considering ASICminers overall success its surprising to see so many "experts" telling them how they should run their business. There's no lack of demand for shares so all this talk of "should have..." and "should do..." can just GTFO, they came here from nothing and kept their promises and that's worth far more than pro beancounting and paperwork.
+1

And what with this non-stop obsession of a hash meter?
Are you in AM to look at their hashrate fluctuating every few hours? If not, then the estimates on 24h and more are far enough for you. And anyway, who cares about hash rate? We care about money reaching our pockets, right? Which means blocks found, and this is a public info.

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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September 14, 2013, 07:13:58 PM
 #12764

Hi there,
I am not ASICMINER shareholder, but bulk order-buyer. I have purchased total of about 80 BE Blades. I bought 60 Blades recently from last old Blade promotion. Now I am trying to contact friedcat by e-mail, by PM and I have no answer at all in last 15 days.
Can someone tell what's going on? I want to buy about 50-100 New BE Blades but looks like they have no time to respond to their customers.

DARKNET MARKETS >> https://DARKNETMARKETS.COM
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September 14, 2013, 07:15:42 PM
 #12765

I would at least expect this from friedcat in this thread. But, well... we are resourcefull and can find info anywhere :-)

I have send fiedcat a pm asking fo the timeframe.

This is the response I received.  Can't say I understand it, but it sounds like September 16 there will be more info or a new post to clarify:  

Quote
Hi,

Here is the timeline:

Now - continuously supply of block erupter USBs
September 16 - restocking of new blades
October 7 - releasing of newer products

We would compensate with new blades or a combination of the above three. But anyhow we will start compensating(collecting information and shipping) at September 16.

Best regards,

friedcat

Thanks for the info. I received no response.
velacreations
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September 14, 2013, 07:17:58 PM
 #12766

interesting.

October 7, releasing of "newer products"?  what does that mean?

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September 14, 2013, 07:27:45 PM
 #12767


I agree. I'm down money on AM but I buy more when I can. There will be a leader that emerges from bitcoin miners. When bitcoin breaks the dollar's back what will happen to leveraged multinational corporations? Bitcoin will be the financial and consolidation center of the world. That's my gamble with AM. As long as things are on schedule I vote for friedcat to focus on the business.

Even I get sick of looking too often at prices.  The other players and BFL and Avalon made things look easy but they weren't easy.  Just look at Coinlab.

You understand that ASICMiner could emerge as the clear leader in Bitcoin mining, and 2BTC/share could STILL be an unfair price, right?

The total number of bitcoins available each year from block rewards is currently 1.36M. That will halve in 3 years and every 4 years after that.

Mature companies rarely have profit margins above 20% and it is unlikely that AM will do better than 20-30% of the total hashrate, even if they emerge as a leader. You are completely discounting the competition otherwise.

So, do the math. Or look here:

https://bitcointalk.org/index.php?topic=235763.msg3134886#msg3134886

Ask yourself this - for a company that went up 5000% from the IPO, would you consider a fair value overshoot of a couple hundred percent unreasonable? (Don't forget that USD/BTC is up 10x from the IPO too).

I'm sorry if you lost money, but if you do not base your stock trades on facts, math and logic, you are a gambler, not an investor.

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September 14, 2013, 07:31:01 PM
 #12768

interesting.

October 7, releasing of "newer products"?  what does that mean?

I certainly hope it doesn't mean FC is giving out inside info via PM instead of taking the time to make a public update.

I suspect this PM was manufactured - I have more faith in FC than that.

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September 14, 2013, 07:32:46 PM
 #12769

interesting.

October 7, releasing of "newer products"?  what does that mean?

Indeed, interesting! Anybody sees something known to which it could relate? If not, it is entirely new info, which is supeeeer positive (and weird that it leaks from a reseller first)...

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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September 14, 2013, 07:33:59 PM
 #12770

I suspect this PM was manufactured - I have more faith in FC than that.
Do you mean FC leaked something on purpose, or do you mean it's manufactured by somebody and just a fake?

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
JimiQ84
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September 14, 2013, 07:34:01 PM
 #12771

interesting.

October 7, releasing of "newer products"?  what does that mean?

could be underclocked two-chip USB miner
Vycid
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September 14, 2013, 07:35:54 PM
 #12772

I suspect this PM was manufactured - I have more faith in FC than that.
Do you mean FC leaked something on purpose, or do you mean it's manufactured by somebody and just a fake?

I mean I prefer to think it's fake than imagine FC is handing out inside info. He's been very professional in the past.

velacreations
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September 14, 2013, 07:41:54 PM
 #12773

I suspect this PM was manufactured - I have more faith in FC than that.
Do you mean FC leaked something on purpose, or do you mean it's manufactured by somebody and just a fake?

I mean I prefer to think it's fake than imagine FC is handing out inside info. He's been very professional in the past.

I do think he lets resellers know what is coming down the pipes on hardware stocking.  If it is real, then he's saying they will have new stock in 2 days for the blades, which is really not handing out inside info as much as preparing the resellers for the new stock.

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September 14, 2013, 07:45:30 PM
 #12774

I suspect this PM was manufactured - I have more faith in FC than that.
Do you mean FC leaked something on purpose, or do you mean it's manufactured by somebody and just a fake?

I mean I prefer to think it's fake than imagine FC is handing out inside info. He's been very professional in the past.

I do think he lets resellers know what is coming down the pipes on hardware stocking.  If it is real, then he's saying they will have new stock in 2 days for the blades, which is really not handing out inside info as much as preparing the resellers for the new stock.

This guy is a reseller?

https://bitcointalk.org/index.php?topic=282910.msg3151881#msg3151881

velacreations
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September 14, 2013, 07:48:55 PM
 #12775

I have no idea who he is.  But, what I was saying is that telling someone that blades will be in stock in 2 days via PM doesn't sound like insider information to me.

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September 14, 2013, 07:50:31 PM
 #12776

this probably should go in the Speculation thread, but if this is true, then it lines up with him buying a bunch of advertising and not responding to people until they knew blades would be restocked.

I'll wait until I hear a confirmation, but it is interesting, nonetheless.

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September 14, 2013, 08:00:50 PM
 #12777

this probably should go in the Speculation thread, but if this is true, then it lines up with him buying a bunch of advertising and not responding to people until they knew blades would be restocked.

I'll wait until I hear a confirmation, but it is interesting, nonetheless.

That Oct 7 reference is very clearly inside information, if true. Why he would make this useless post today

https://bitcointalk.org/index.php?topic=294030.msg3151018#msg3151018

and then only reveal his plans to a forum no-name is beyond me.

I am sure some people will rush to BTCT to trade on this information, then lose their money when it turns out that FC isn't incompetent.

velacreations
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September 14, 2013, 08:07:57 PM
 #12778


posting a product user guide is useless information?

regardless, we'll wait and see if there will be any confirmation of that PM.  I agree that it is wise to be skeptical on information like that, until we hear it from FC himself.

Vycid
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September 14, 2013, 08:09:13 PM
 #12779


posting a product user guide is useless information?

regardless, we'll wait and see if there will be any confirmation of that PM.  I agree that it is wise to be skeptical on information like that, until we hear it from FC himself.

The link is broken, so unless you have super-vision it's pretty useless.

And yes - skepticism is always healthy. But some like to gamble...

21:00 (B) 2 @ 2.12800000 ASICMINER-PT
21:00 (B) 5 @ 2.12500000 ASICMINER-PT
21:00 (B) 10 @ 2.12000000 ASICMINER-PT
21:00 (B) 5 @ 2.11500000 ASICMINER-PT
21:00 (B) 5 @ 2.11000000 ASICMINER-PT
21:00 (B) 1 @ 2.10900000 ASICMINER-PT
21:00 (B) 1 @ 2.10800000 ASICMINER-PT
20:46 (B) 1 @ 2.10600000 ASICMINER-PT
20:46 (B) 2 @ 2.10500000 ASICMINER-PT

velacreations
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September 14, 2013, 08:10:28 PM
 #12780

And yes - skepticism is always healthy. But some like to gamble...

that's nothing, look at people buying Labcon right now...

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