ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Vycid]

I've said it before, there is a huge incentive for friedcat to withhold as much (and communicate as little) as he can justify from his paying dividends in order to

1) Bolster the company in the longer term through reinvestment
2) Not give strategic guidance to his competitors
3) Increase his holdings in the company and the lowest possible purchase price prior to more public actions

That said, the average hashrate was never sustained over 60TH/S. So, unless friedcat made more money selling products than he would have mining from them, there is not a victory. However, considering the markup and the fact that nothing ever sold will ROI in bitcoin, and the obvious opportunity to completely dominate asic sales for months, its possible that sourcing has been nearly as much of an issue for friedcat as it has been for everyone else in this space. Who knows. I do know that blades are already more price competitive than anything else shipping and that they likely still have an incredible markup (which we will soon learn about if they continue to drop in price).
 
Either he's totally beaten, giving up, or doing what a smart and rational actor would. Place your bets either way.

Every day he does not publish a planned price, spec and release date for his Gen 2 hardware, he is losing customers who choose to preorder with his competition.

Are you suggesting his competition is not acting rationally, since they have all released their plans?

Yes pre-ordering has proved to be such a success story. Just look at BFL and Avalon. The people who pre-ordered with them are just elated. So there will be no risk pre-ordering with new unknowns.

That is exactly why people would wait for AM if they gave an update.

But instead AM is choosing to be an unknown. Why?

[1714947165]

1714947165

[1714947165]

1714947165

[1714947165]

1714947165

[1714947165]

1714947165

[1714947165]

1714947165

[Vycid]

considering that I could literally crash the price to the ground by myself if I transferred my direct shares to BTCT I believe it is controlled by to small of a number of people for it to be accurate, people also tend to panic horribly with any type of news, what is FC doing withholding the dividends? probably exactly what he said hes going to do..

You're not the only one that could crash this thing by yourself, bud. Someone else is probably going to beat you to it. eb3full is probably kicking himself for not selling everything at 2.7.

[ajk]

I realize this.. Bud, Im saying that is why it is hardly a good indicator of the price considering I am only a medium sized investor of the company and could do this,

Ok? but in the grand scheme of things he bought at the IPO so if he is a glass half full kind of investor, Like most good ones are, He has made much more than his initial investment,

if you dwell on the negative you will never be able to move on to your next play and make the best trading decisions,

you also state why FC Isnt giving updates on his Gen2,

1. FC Doesnt take preorders and anytime he has hardware it literally sells out in minutes,
2. He currently doesnt have hardware to sell and is working on his new line of products
3. When he has undeniable proof he most likely will post an update

unlike you, people who have wealth have a harder time day trading, they simply cannot in this market since it completely lacks market depth

[Vycid]

I realize this.. Bud, Im saying that is why it is hardly a good indicator of the price considering I am only a medium sized investor of the company and could do this,

Ok? but in the grand scheme of things he bought at the IPO so if he is a glass half full kind of investor, Like most good ones are, He has made much more than his initial investment,

if you dwell on the negative you will never be able to move on to your next play and make the best trading decisions,

you also state why FC Isnt giving updates on his Gen2,

1. FC Doesnt take preorders and anytime he has hardware it literally sells out in minutes,
2. He currently doesnt have hardware to sell and is working on his new line of products
3. When he has undeniable proof he most likely will

unlike you, people who have wealth have a harder time day trading, they simply cannot in this market since it completely lacks market depth

It completely lacks depth because nobody wants to buy the metric fuckton of shares early investors like you own. The artificial scarcity on the exchanges is the only thing keeping this clown-boat afloat at this point, and if this trend continues that is about to change.

You can stick your head in the sand and pretend there's a good reason a CEO shouldn't communicate with his shareholders, but I'm firmly of the position there isn't.

[ajk]

Sure... it also has nothing to do with the fact that BTCT is a tiny exchange or anything, look at the 30D # of BTC traded of all the securities, some BTC Exchanges do this amount in less than a week, even the non liquid MTGox,

I am also not an early investor of AM I just believe in the company and FC, if you think AM Is a clownboat I cant imagine what other companies you think is a good one,

you enjoy making your money and ill enjoy making mine but as said prior it gets old seeing only you post over and over in this thread to protect your put options which equate to my dividends weekly
 
Addition to your edit: I never said that CEO communication wasnt important, that is putting words in my mouth and also a rhetorical point, I just dont need someone to hold my hand when I am making my trading decisions like others seem to,

Good day and enjoy Im all done

[Vycid]

Sure... it also has nothing to do with the fact that BTCT is a tiny exchange or anything, look at the 30D # of BTC traded of all the securities, some BTC Exchanges to this amount in less than a week, even the non liquid MTGox,

I am also not an early investor of AM I just believe in the company and FC, if you think AM Is a clownboat I cant imagine what other companies you think is a good one,

you enjoy making your money and ill enjoy making mine but as said prior it gets old seeing only you post over and over in this thread to protect your put options which equate to my dividends weekly
 
The wise do at once what the fool does at last

I like your signature. Very sage.

[freedomno1]

At a guess its a better bet to sell the hardware while there's strong demand. It's impossible to know what kind of hash rate will be needed a month from now, maybe massively parallel chips or something will blitz current hardware and be ready to ship and if something like that happens then big investments will be lost. The best spot would probably be to maintain a good hardware business until things settle down and be ready to jump with any developments.

Early on in this thread Friedcat was asked if he could notify shareholders should anyone try to buy enough hardware to attack the network. I'd be curious to know if anyone has tried (doubt it, they'd just use multiple buyers) and if retailers, franchises etc. are giving good diversification.

I agree, it does make sense to sell off the hardware if you know what your putting up to replace it.
The reason being that you might be able to get a better price than just holding onto something from the old gen when your new stuff arrives.
Basic put a similar motion through the other day so it does make good business sense with the unknown future hash incoming.

[Vycid]

It makes sense to keep a stream of hardware coming and the advantage of being able to over-order with no dead stock is damn cool. And it makes sense to keep a good pace of development to keep offering better products but putting a big budget into development could be dangerous at this stage as there's likely to be big steps in hardware development.

1) Overstock is no big deal if you have huge profit margins. Just lower the price a little. Selling out is unequivocally a bad thing if your profit margins are 75+%. It means you are missing out on insane profits.

2) It is far more dangerous to underinvest in hardware development and become irrelevant.

[BitThink]

All you said make sense, but the product lines friedcat can secure are limited. That's the problem I guess.

[superduh]

AM should join a pool for the next month or so

[Strange Vlad]

I really hope friedcat makes an update today.

[mc_lovin]

AM should join a pool for the next month or so

+1 let's see the BTCGuild at 50+ TH/s constant and then maybe throw some more at solo.

If there is a huge variance in solo mining to begin with, and then add in the added loveliness of the poorly-peered Chinese networks (causing AM to have the highest orphan rate ever), we have a bigger potential to lose than the potential gains.

[JimiQ84]

luck has turned and AM is doing some crazy hashing few last hours

[VeeMiner]

I don't have a heart for daytrading so I am going to hold and read.... with alot of popcorn.

I'm with you man. I just don't have the guts and patience for daytrading, so I'm just holding on to my shares and watching the situation. In fact the actual share price isn't too relevant to me cause I don't plan on selling. However AM is too large piece of my BTC portfolio so I can't really buy more either...

[ninjarobot]

I'm an AM shareholder and I hope we briefly dip to 1.5 BTC before the Gen2 announcement because I'll be buying.

The mining landscape is changing rapidly but FC had a significant head start. I don't believe he is a clown. And although I wish he would communicate more I also believe actions speak louder than words. Combined with his business ethics I feel comfortable riding things out with AM until at least the next halving.

The only thing I worry about is how competitive AM can be with 55nm hardware over the long run (9-12 months) when everybody else has moved to 28nm.

On the positive side, all the new hardware producers (Cointerra, Hashfast, etc.) seem to focus on bigger chips (400GH/s+). I think the USB stick mining space is actually very significant so I'm happy that AM should be able to keep emphasizing on that with Gen2 as well.

[EskimoBob]

Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.

How to buy shares
There are no public exchanges approved or chosen by us yet. Nor we will be selling any of them without a public announcement. Currently you could only buy shares from earlier investors privately with or without third-party escrows. We provide no escrow service. The trade should be registered in our database to make the dividend payment conform with the transfer.

Dividend payment
The income, including mining income, sales via Bitcoins, and fiat income transferred to Bitcoins, are paid to ASICMINER and Bitfountain shareholders proportionally after the ASICMINER shares are paid by 0.1BTC each from the day when dividends began to be paid, when maintainance costs, labor costs, and R&D costs are taken.

Our chips
Generation 1: Block Eruptor. 130nm with 6-8J/GH. Each chip's rated frequency is 336MHz at 1.05V. It translates to 336MH/s because it does one hash per cycle. The chips work stable and well at 392MH/s at 1.15V. Further overclocking needs proper handling of heat and power supply.

Are those dividends only form mining, if so, why is he not sharing the profits form hardware sales? As I understand, AM made a killing, selling this stuff.

[🏰 TradeFortress 🏰]

Introduction
ASICMINER is a virtual identity totally held by investors of the Bitfountain company. The Bitfountain company's business includes mining with self-built ASIC devices, as well as the sales of them. Currently ASICMINER shareholders holds 163,962 shares, while Bitfountain shareholders holds 236,038 shares. ASICMINER shares have the privilege of getting all net profits till 0.1BTC/share from the day when dividends began to be paid. They also have the exemption of dilution, which means that each ASICMINER share always equals to 1/400,000 of the total profits and voting power of the summed value from both ASICMINER and Bitfountain.

How to buy shares
There are no public exchanges approved or chosen by us yet. Nor we will be selling any of them without a public announcement. Currently you could only buy shares from earlier investors privately with or without third-party escrows. We provide no escrow service. The trade should be registered in our database to make the dividend payment conform with the transfer.

Dividend payment
The income, including mining income, sales via Bitcoins, and fiat income transferred to Bitcoins, are paid to ASICMINER and Bitfountain shareholders proportionally after the ASICMINER shares are paid by 0.1BTC each from the day when dividends began to be paid, when maintainance costs, labor costs, and R&D costs are taken.

Our chips
Generation 1: Block Eruptor. 130nm with 6-8J/GH. Each chip's rated frequency is 336MHz at 1.05V. It translates to 336MH/s because it does one hash per cycle. The chips work stable and well at 392MH/s at 1.15V. Further overclocking needs proper handling of heat and power supply.

Are those dividends only form mining, if so, why is he not sharing the profits form hardware sales? As I understand, AM made a killing, selling this stuff.

AM's divs include mining hardware sales.

Are you this late??

[BitThink]

Are those dividends only form mining, if so, why is he not sharing the profits form hardware sales? As I understand, AM made a killing, selling this stuff.

Dividend payment
The income, including mining income, sales via Bitcoins, and fiat income transferred to Bitcoins, are paid to ASICMINER and Bitfountain shareholders proportionally after the ASICMINER shares are paid by 0.1BTC each from the day when dividends began to be paid, when maintainance costs, labor costs, and R&D costs are taken.

[EskimoBob]

Are those dividends only form mining, if so, why is he not sharing the profits form hardware sales? As I understand, AM made a killing, selling this stuff.

Dividend payment
The income, including mining income, sales via Bitcoins, and fiat income transferred to Bitcoins, are paid to ASICMINER and Bitfountain shareholders proportionally after the ASICMINER shares are paid by 0.1BTC each from the day when dividends began to be paid, when maintainance costs, labor costs, and R&D costs are taken.

This thread grows so fast. Have you seen any statements? I must have missed those.

[empoweoqwj]

I think friedcat has done great. What puzzles me is the length of time to go from gen1 to gen2. There must be something missing in China that means it is taking a long time.

And yes, I know he said it would take a long time. My question is simply: why?

AM has all the experience in the field, bitcoins galore in the bank, why so long to get to gen2? ( November / December ). That's a lifetime away, even for a patient guy.

I'd put it forward a question for fc but even the "questions to ask fc" system appears to have been abandoned?